SENATE BILL NO. 1076

November 07, 2024, Introduced by Senators SINGH and WEBBER and referred to the Committee on Regulatory Affairs.

A bill to amend 1956 PA 218, entitled

"The insurance code of 1956,"

(MCL 500.100 to 500.8302) by adding chapter 12C.

the people of the state of michigan enact:

CHAPTER 12C

PORTABLE ELECTRONICS INSURANCE

Sec. 1292. As used in this chapter:

(a) "Customer" means a person that purchases portable electronics or services.

(b) "Enrolled customer" means a customer that elects coverage under a portable electronics insurance policy issued to a vendor.

(c) "License" means that term as defined in section 1201.

(d) "Limited line portable electronics insurance producer" means a vendor that holds a license issued under this chapter.

(e) "Location" means a physical location in this state or a website, call center site, or similar location directed to residents of this state.

(f) "Portable electronic device" means an electronic device that is portable and includes accessories or services related to the use of that electronic device.

(g) "Portable electronics insurance" means insurance that provides coverage for the repair or replacement of a portable electronic device, including, but not limited to, insurance that provides coverage for a portable electronic device against loss, theft, inoperability because of mechanical failure, malfunction, damage, or other similar causes of loss. Portable electronics insurance does not include any of the following:

(i) A service contract as that term is defined in section 125.

(ii) A policy of insurance covering a seller's or manufacturer's obligations under a warranty.

(iii) A homeowner's, renter's, automobile insurance (limited), or similar insurance policy.

(h) "Portable electronics insurance program" means a program established by a vendor in which the vendor enrolls a customer in portable electronics insurance coverage sold or offered under section 1293.

(i) "Portable electronics transaction" means any of the following:

(i) A sale or lease of a portable electronic device.

(ii) A sale of a service related to a portable electronic device.

(j) "Supervising entity" means a business entity that is an insurance producer or insurer.

(k) "Vendor" means a person in the business of directly or indirectly engaging in portable electronics transactions.

Enacting section 1. This amendatory act does not take effect unless all of the following bills of the 102nd Legislature are enacted into law:

(a) Senate Bill No. 1069.

 

(b) Senate Bill No. 1070.

 

(c) Senate Bill No. 1071.

 

(d) Senate Bill No. 1072.

 

(e) Senate Bill No. 1073.

 

(f) Senate Bill No. 1074.

 

(g) Senate Bill No. 1075.

 

(h) Senate Bill No. 1077.

 

(i) Senate Bill No. 1078.